Home > Commands > Input > Plan Definitions - German mode > Benefit Promises > Normal Retirement

Normal Retirement

German pension mode

The Normal Retirement topic of a Benefit Promise allows you to define the normal retirement age and date. Select whether the Normal retirement age should be a Constant age, is contained in a Database field or should be set equal to the State Pension Normal Retirement Age (SVRA). (The SVRA depends on the participant's date of birth. There is a monthly step-by-step increase in SVRA for each year of birth between 1946 and 1964. For years of birth 1946, 1958, and 1964, the SVRA is 65, 66, and 67, respectively. After 1964, age 67 applies to everyone.)  If Constant age is selected, enter the age in the text field. If the Database field option is chosen, select the database field that contains the normal retirement age value.

Also, indicate the Normal retirement date rounding: whether there should be None (that is, set the normal retirement date as the exact date normal retirement age is attained) or rounding should be First of month coincident with or next following the date that the normal retirement age is attained.